New York (awp / afp) – The dollar regained color on Thursday after its marked decline the day before, driven by risk aversion and the rise in bond rates, but the euro and pound sterling resisted the greenback.
The “greenback” advanced against the yen, the Canadian dollar or the Swiss franc, thanks in particular to a strengthening of US bond yields. The rate of 10-year government bonds stretched slightly to 3.75%, against 3.73% the day before.
Another factor in the appreciation of the US dollar, “the return of risk aversion” among operators, after a break on Wednesday, according to Joe Manimbo of Convera.
However, the movements of the foreign exchange and bond markets were much more moderate on Thursday than those of the stock markets, which plunged.
“It appears to be month-end and quarter-end adjustments” by portfolio managers that “generate these equity selloffs,” commented Adam Button of ForexLive.
For Edward Moya, of Oanda, these big maneuvers which precede the end of the quarter also affected the pound, supported by profit taking against the dollar after the British currency recorded, on Monday, its lowest level in its history. against the greenback.
The euro, also martyred in recent weeks, also pulled out of the game, and gained 0.70%, around 7:00 p.m. GMT. A change that occurs despite the publication of a series of bad indicators.
In the eurozone, the ESI consumer confidence index fell in September for the seventh month in a row.
“The dollar’s ascent is far from over, but it could pause for the next 24 hours,” Edward Moya warned in a note.
If the pound paraded, British bond rates, they again showed signs of overheating, and rose to 4.21% for the 10-year maturity, after falling to 4% the day before.
British Prime Minister Liz Truss on Thursday defended her support plan so decried by the markets, which see the risk of derailing public finances and making the debt unsustainable.
“We had to take action to deal with a very, very difficult economic situation,” Ms Truss told the BBC.
Friday class Wednesday class
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7:00 p.m. GMT 9:00 p.m. GMT
EUR/USD 0.9804 0.9735
EUR/JPY 141.57 140.34
EUR/CHF 0.9578 0.9501
EUR/GBP 0.8843 0.8940
USD/JPY 144.41 144.16
USD/CHF 0.9771 0.9760
GBP/USD 1.1084 1.0689
dpa/al